Monetary Systems

In the Monetary Systems room we explain the conditions that must be fulfilled for such a system to be stable, support the economy, and make the daily life of the citizens easier. After all, the money that we pay is more than just physical banknotes and coins – behind it stands detailed laws regulating its circulation. It is these laws that determine the type and appearance of the currency, the institution that may issue it, and the rules of its issuance. They also introduce a legal requirement to accept banknotes and coins legally put into circulation in the designated territory as well as other detailed rules which together form a monetary system which is necessary for the smooth functioning of the economy. Over the centuries, many monetary systems were in place. The multimedia applications gathered here explain in an attractive way the rules that they were based on, showing the advantages and disadvantages of each of them. In this room you can also see the huge dimensions of a Swedish coin from the 17th century, the so-called platmynt, or plate money. The largest of these weighs 20 kilograms! Their dimensions and weight meant that the owners deposited them in the bank, which in return issued them with deposit certificates, which were the first banknotes in Europe.